LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
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FTSE 100 - LOSERS
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BHP Billiton, down 6.8%. The miner said further productivity improvements have supported a "robust" period of production in the first half of the financial year as it reiterated its full-year production guidance across its commodities except for iron ore. BHP said petroleum, copper and coal all remain on track to deliver production results in the financial year due to end in June that will meet expectations. However it warned that iron ore production will be lower than previously expected. Full-year iron ore production guidance was lowered to 237.0 million tonnes from 247.0 million.
Royal Dutch Shell 'A', down 5.2%, Royal Dutch Shell 'B', down 5.2%. The oil major said its earnings plummeted in 2015 as a result of lower oil prices, but it sought to alleviate concerns over the future of its dividend. Shell said full-year current cost of supply earnings excluding items is expected to be in the region of USD10.40 billion to USD10.70 billion, little more than half the USD19.04 billion in 2014, whilst income attributable to shareholders will be around USD1.60 billion to USD2.00 billion, also a fraction of the USD14.87 billion a year ago. Shell said its 2015 dividend will be USD1.88 per share, and said its dividend in 2016 will be at least that amount. The 2015 dividend is flat from 2014.
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Shares in Shell merger partner BG Group were down 2.6% after its said earnings dropped in 2015 as expected, but said those results are in line or ahead of expectations. The oil and gas company said it expects to report total results earnings of "at least" USD2.30 billion in 2015, nearly halving from USD4.03 billion in 2014.
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FTSE 250 - WINNERS
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WH Smith, up 7.4%. The books and stationary retailer reported growth in revenue in the 20 weeks to January 16 and said it now expects full-year profit to be ahead of plan following a successful Christmas trading period in the high street division. WH Smith said total group revenue in the period grew 4% year-on-year as a 12% rise in travel revenue offset a 1% decline in high street revenue. On a like-for-like basis, group sales increased 2% with travel sales up 5% while high street sales remained flat.
Pets at Home Group, up 2.5%. The pet products and services retailer reported growth in sales in the third quarter of its financial year and said it is on track to meet full-year expectations, as it achieved strong revenue growth in its vet and grooming services. Total revenue in the 12 weeks ending December 31 grew 7.1% to GBP195.1 million, as merchandise revenue rose 5.4% and services revenue increased by more than a quarter at 27%. Pets at Home said sales were boosted by its Advanced Nutrition product range and recovering sales in Health & Hygiene, as well as its vet and grooming services.
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FTSE 250 - LOSERS
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JD Wetherspoon, down 5.3%. The pub operator reported growth in sales in the second quarter of its financial year, but warned that profit for the full-year will be at the lower end of analyst expectations. The group said total sales in the 12 weeks to January 17 grew 6.3% year-on-year, as like-for-like sales rose 3.3%. In the 25 weeks to the same date, total sales increased 6.1% and like-for-likes were up 2.8%. Wetherspoons said it expects its operating margin for the half-year ending January 24 to be around 6.3%, which is 1.1% lower than the same period last year, which it said reflects increases in starting rates for hourly paid staff.
Jardine Lloyd Thompson Group, down 5.6%. The group, which provides insurance, reinsurance and employee benefits related advice, was hit by a downgrade by JPMorgan Cazenove, which cut is rating on the company to Neutral from Overweight and slashed its price target to 925 pence from 1,150p.
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MAIN MARKET AND AIM - WINNERS
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Nature Group, up 11%. The company, which provides port reception facilities and waste treatment services in the oil, marine and process industries, said it expects cost savings for its Texas-based unit after it secured approval for its new autoclave system on the Gulf Coast. It said its Nature Environmental & Marine Services unit has started processing waste through its autoclave system. The system is designed to process solid waste received from vessels calling at the Texas Gulf Coast. The new system will allow the Nature unit to process its own collected US Department of Agriculture regulated waste, eliminating the need for third-party processors and therefore cutting costs for the business.
Tissue Regenix Group, up 11%. The regenerative medical devices maker said its DermaPure wound care products has surpassed the USD1.0 million sales mark. The boost came after the product was awarded the Medicare 'Q' code for reimbursement in the US, which became effective on January 1 and meant the product was made available to 65% of Medicare beneficiaries in the US across 31 states. DermaPure is used for a number of treatments, including for pressure ulcers and frostbite, Tissue Regenix said.
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MAIN MARKET AND AIM - LOSERS
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Independent Resources, down 27%. The oil and gas firm was trading lower after it updated on the East Ghazalat field joint venture in Egypt with fellow AIM-listed company Nostra Terra Oil & Gas. Although the pair released news that shows both companies are generating revenue from the recently acquired field, they are still awaiting to receive payments which is placing strain on Independent Resources' cash, causing the company's share price to fall further than its partner Nostra Terra as it warned it may have to get support from providers of equity finance.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
17 Nov 2016 15:58
